Reit Earnings Slow

BRIEFCASE

December 26, 1998

Real estate investment trusts are expected to report that fourth-quarter earnings rose about 11 percent, slower than in recent quarters, as slumping stock prices make it harder to finance property acquisitions. ``Growth from acquisitions and developments has definitely slowed and that is starting to show up in earnings,'' said Glenn Mueller, head of real estate research at Legg Mason Wood Walker Inc. REIT stocks are down 16 percent this year on concerns about a slowing economy, coupled with a rise in construction.